Independent Bank completes acquisition of Enterprise Bancorp

Jul 01, 2025•15 days ago

Acquiring Company

Independent Bank

Acquired Company

Enterprise Bancorp

Grand Rapids

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Description

Independent Bank Corp. has finalized its acquisition of Enterprise Bancorp, Inc. for $25.8 million in cash and stock. The legal closing took effect on July 1, 2025, with Enterprise merging into Independent. Customers can expect product and account conversions to occur in October 2025. This merger marks a significant expansion for Independent Bank in the region.

Company Information

Company

Independent Bank

Location

Grand Rapids, Michigan, United States

About

Independent Bank Corp. is the parent company of Rockland Trust Company. It provides a range of banking services to individual and business customers. The company is known for its community involvement and commitment to customer service. Independent is publicly traded on the Nasdaq.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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